Trump: Negotiations with Iran are progressing smoothly, with US bond yields falling across the board

US President Trump stated that negotiations with Iran on a temporary agreement to extend the ceasefire and reopen the Strait of Hormuz are progressing smoothly. As a result, the yield of two-year US treasury bond bonds fell 7 basis points to 4.05%, the 10-year yield fell 7 basis points to 4.49%, and the 30-year yield fell 5 basis points to 5.02%. Abbas Keshwani, Asia Macro Strategy Director at Royal Bank of Canada Capital Markets, said that progress in negotiations could lower energy prices and inflation expectations, further lowering yields.